Agritech startup Superplum has recently closed a significant Series A funding round, securing $15 million to further its mission of transforming India’s produce supply chains. Led by Erik Ragatz, former partner and senior advisor of private equity firm Hellman & Friedman, the financing round signals a strong endorsement of Superplum’s innovative approach.
This latest investment adds to Superplum’s pre-Series A round of $3.8 million, bringing its total raised capital to nearly $22 million. The startup, founded in 2019 by Shobhit Gupta, has quickly established itself as a leader in the agritech space by leveraging proprietary technology and cold-chain infrastructure to streamline the produce journey from farm to market.
Superplum’s core focus lies in extending the shelf life and enhancing the quality of fruits, thus reducing food waste and bolstering farmer incomes. Its direct-from-farm supply chain model covers 22 states in India, including regions like Bihar, Kashmir, and Karnataka. The startup works with farmers to modernize sourcing and supply chains for 25 fruits annually.
One of Superplum’s key innovations is its commitment to providing consumers with premium-quality, healthier produce. The startup has positioned itself as India’s first premium fruit brand, offering a variety of fruits such as mangoes, litchis, apples, grapes, cherries, and plums, among others. Its products are available through various channels, including online platforms like Amazon Fresh, Zepto, Swiggy, and Blinkit, as well as major retailers such as Spar, Metro, Lulu, and Modern Bazaar.
Commenting on the funding round, Shobhit Gupta, CEO of Superplum, expressed gratitude to the investors and highlighted the company’s plans to strengthen its infrastructure further and expand its reach. With the support of investors like Ragatz and existing backers Mark Siegel, Dan Rose, Steve Jurvetson, and others, Superplum aims to accelerate its efforts in revolutionizing India’s agricultural landscape.
The infusion of funds will enable Superplum to continue its journey towards creating a more efficient and sustainable agricultural ecosystem, benefiting farmers, consumers, and the environment. As the demand for high-quality produce grows, Superplum is well-positioned to play a pivotal role in shaping the future of India’s agritech sector.
